Humble Wanaka home valued at $4.2m for sale

Wanaka's $4.22 million town house overshadowed by a large commercial complex. Photo / Marjorie Cook.

A concrete block home in the centre of Wanaka valued at $4.22 million has been put on the market.

The decision by the trustees of the estate of Olive West to sell the humble property may spark debate about town centre development and provide a boost for the town's real estate agents.

Community groups also stand to benefit from some of the proceeds of any sale under the terms of the will left by Mrs West's late husband, Gra West.

Mrs West's trustee and Checketts McKay lawyer Bryan Lloyd confirmed yesterday "all the local agents have got it, provided they are prepared to go along with the terms we've suggested for commission rates".

The 1131sq m property has been valued for rateable purposes at $4.22 million, but the buildings on the land are valued at just $20,000.

A sign has been erected outside Mrs West's home saying tenders close on January 28.

The house is one of the few remaining residential properties in Wanaka's central business district and some people have suggested it and the neighbouring Masonic Lodge should be bought for the community. Both properties could then be developed as part of a Bullock Creek recreational area or Dunmore St town square.

This suggestion arose during the public-submission process for Wanaka's town centre development strategy, which was approved by the Queenstown Lakes District Council last year.

However, Wanaka Masonic Lodge spokesman Gordon Girvan confirmed yesterday the lodge, valued at about $1.6 million, was not for sale.

Mrs West died on August 19 aged 99. She and her late husband were well-known boating tourism identities.

They built their Ardmore St home in the 1950s and the town grew up around them. They had no children, but Mrs West has a sister, Ella Trow, of Thames.

The couple are also survived by many generations of nieces and nephews.

The couple held half shares in the house. Mr West died in 1995 and his will stipulated part of his estate be set aside in trust for charitable purposes.

The two named trustees have died. The other trustees were to be whoever held the positions of Wanaka Community Board chairman and director of Presbyterian Support Services.

Wanaka Community Board chairman Lyal Cocks confirmed now the house was for sale, the trust set up by Mr West's will would have to be created.

The trust did not have any other money and would only receive part of the sale proceeds.

The trustees were instructed by Mr West's will to support community groups, Cr Cocks said.

Cr Cocks confirmed the council had investigated the possibility of buying the Wests' house, after receiving submissions on the town centre strategy.

"It is still an option ... But looking at the value of the property and the predicted sale price, there could be other, higher priorities to spend public money on."